Property tycoon on US finance TV show
MILLIONAIRE property tycoon Fergus Wilson has only sold about 20 homes from his property portfolio since announcing his retirement in March.
He and his wife Judith are selling off their Ashford and Maidstone portfolio of about 700 homes. The 62-year-old stands to bank about £70 million in profit from the property sales.
But Mr Wilson is still busy, having just been interviewed by money guru Alvin Hall for an American television series. He said: “They asked me whether I thought landlords in gen- eral were depriving first-time buyers of property. I think not and a couple of years ago it was a question of let the buyer beware.
“There were all these fantastic mortgages for flats and first-time buyers were keen to get involved that this is what they did. Then when they came out of the fixed rate they suddenly realised they couldn’t afford it any more.
“It was good sense for me to buy the houses because they weren’t selling, because everyone else was buying the flats.”